Directors’ Report

V. Satya Venkata Rao Dy. Managing Director

Sudatta Mandal Dy. Managing Director

The Board of Directors of the Bank takes pleasure in presenting its Report on the overall business and operations of your Bank for the financial year ended March 31, 2021.

Over the past year, the Bank has focused on supporting the MSME sector during the COVID-19 pandemic through wide-ranging holistic initiatives. The activities of the Bank were aligned to the support measures of the Government and RBI, and every effort has been made to address issues faced by the sector. During the year, the Direct Finance operations of the Bank rolled out tailor-made schemes for those MSMEs engaged in fighting the pandemic, providing an early bird response to the contagion. The Institutional Finance operations focused on providing liquidity support to financial intermediaries, especially the lower-rated NBFCs and MFIs, to ensure credit to last-mile MSMEs. The Promotional and Developmental activities were geared towards providing support to those whose livelihoods were affected by the pandemic, and in capacity-building of budding entrepreneurs.

Your Bank, being the apex body responsible for development of the MSME sector, has undertaken constructive engagements with various Ministries for effective delivery of Government schemes through digital interventions. The Bank’s Udyamimitra portal has emerged as a virtual ecosystem that is being leveraged effectively by stakeholders for development of the sector.

The performance of the Bank for FY 2021 has been enumerated in detail in the following chapters of the Annual Report.

V. Satya Venkata Rao Dy. Managing Director

Sudatta Mandal Dy. Managing Director

The highlights of the performance of the Bank during FY 2021 are indicated in the Part-I and the Audited Financials for FY 2021 are enclosed in Part-II.